FLINT, MI -- Two people have pleaded guilty for their role in a Ponzi scheme involving a Genesee Township man who bilked unsuspecting investors out of millions of dollars.

Ronald and Bonnie Brito, of California, each pleaded guilty Thursday, June 6, in Flint U.S. District Court to charges that they were involved in a Ponzi scheme in which at least 250 investors lost more than $16 million.

Federal court documents show that Genesee County investors lost more than $100,000 in the scheme.

Ronald Brito pleaded guilty to being involved in a wire fraud conspiracy after he started the scheme in 2005 under the name GetMoni.Com, which claimed investors could profit by loaning money to building contractors at high rates of interest.

In 2006, John Missitti, of Genesee Township, invested in GetMoni.Com. Missitti admitted that he soon learned that the
investment was a Ponzi scheme in which new investments were used to
pay earlier investors rather than in invest in legitimate businesses, according to court records.

But instead of reporting the scam, Missitti agreed to solicit
new investors from Michigan in exchange for commissions from Ronald Brito,
according to court records.

Missitti admitted that his actions brought an additional
110 investors into the scheme. Federal authorities claim that Missitti's
investors lost more than $4.5 million but Missitti claims his investors only lost
in excess of $1 million.

Missitti pleaded guilty May 1 to one count of participating in a wire fraud conspiracy
and one count of filing a false tax return.

Bonnie Brito pleaded guilty to one count of failing to report a felony after authorities say she attempted to conceal the scheme by assuring investors that their money was invested in a legitimate enterprise, despite knowing that their funds were being used to pay off previous investors.

The Ponzi scheme collapsed after the conspirators were
unable to obtain new investors. Public complaints were filed after the collapse
and a cease and desist order was issued by the Michigan Office of Financial and
Insurance Regulation in November 2009.

Missitti is scheduled to be sentenced Sept 4. Sentencing for the Britos is scheduled for Oct. 8.